Methode Electronics (NYSE:MEI) Cut to “Strong Sell” at Zacks Investment Research
According to Zacks, “Methode Electronics, Inc. is a global manufacturer of electronic components and subsystems. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end-markets of the automotive, appliance, communications, aerospace, rail and other transportation industries, and the consumer and industrial equipment markets. “
NYSE MEI opened at $28.80 on Thursday. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. Methode Electronics has a 1 year low of $20.99 and a 1 year high of $41.30. The firm has a market capitalization of $1.07 billion, a P/E ratio of 10.18 and a beta of 1.51. The company has a fifty day moving average of $27.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $0.44 annualized dividend and a yield of 1.53%. Methode Electronics’s dividend payout ratio is presently 14.86%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Methode Electronics in the fourth quarter valued at about $17,166,000. THB Asset Management raised its holdings in shares of Methode Electronics by 151.4% in the first quarter. THB Asset Management now owns 276,942 shares of the electronics maker’s stock valued at $7,970,000 after buying an additional 166,801 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Methode Electronics in the fourth quarter valued at about $3,204,000. Roubaix Capital LLC purchased a new stake in shares of Methode Electronics in the first quarter valued at about $3,853,000. Finally, BlackRock Inc. raised its holdings in shares of Methode Electronics by 2.3% in the fourth quarter. BlackRock Inc. now owns 5,403,585 shares of the electronics maker’s stock valued at $125,850,000 after buying an additional 120,889 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
Featured Article: What is a closed-end mutual fund (CEF)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.